Ess Dee Aluminium hits 30-month low

Shares of Ess Dee Aluminium have tanked 17% to INR 142, its lowest level in past 30-months on the BSE, on back of heavy volumes. Earlier, in September 2012, the stock had fallen below INR 150 mark.

Till 1315 hours, a combined a 817,210 equity shares changed hands as against an average sub 250,000 shares that were traded daily in past two weeks on the BSE and NSE.

In past one month the stock has been almost halved after reported a weak set of numbers for the quarter ended December 2014. It plunged 47% from INR 266 on February 12, 2015, compared with less than 1% fall in the benchmark S&P BSE Sensex.

The company engaged in advanced packaging solution business had posted a sharp 52% year on year (yoy) drop in its standalone net profit at INR 6.43 crore in October-December quarter, due to higher raw material and interest cost. It had profit of INR 13.49 crore in the same quarter last fiscal.

For the first nine months (April-December), the company had reported 38% yoy declined in net profit at INR 24.78 crore against INR 40.10 crore in the corresponding quarter of previous fiscal. For the entire previous financial year 2013-14, the company had profit of INR 50.22 crore. The 52-week high value of the stock was INR 735 on March 18, 2014.

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